The Internal Revenue Service And Their Never Ending Forms
Posted on
October 15th, 2010
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A lot of people want to know what all the assorted Internal Revenue Service forms do. So today we will examine a couple of them. The 1040 form and also the 1099 form (two of the more popular forms).
The 1040 form what is it? it’s a form from the IRS used by individuals for filling out their year’s income tax returns. The 1040 Form comes in many formats such as 1040EZ, 1040A and 1040X each for a different purpose.
The 1099 Form what exactly is it? it’s a form from the Internal Revenue Service used to prepare and file an information return.
What is an information return? An information return is used to report income types not including salaries, tips and also wages (in these scenarios a W2 form would be used).